Industry

Hinduja Leyland Finance files for IPO

Fresh issue of equity shares is for ₹500 crore.

CHENNAI: Hinduja Leyland Finance, a non-banking finance company, has filed a draft red-herring prospectus for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). The fresh issue of equity shares is ₹500 crore and offer for sale is ₹600 crore, said S. Nagarajan, executive vice-chairman, Hinduja Leyland Finance Ltd.

Axis Capital, Citi Group Global Markets India and YES Securities are book-running lead-managers to the issue.

According to him, private equity firm Everstone has over 13% stake in the company and is looking to dilute 50% of its stake. The assets under management of the company stand at around ₹8,500 crore against ₹6,500 crore last year.

In fact, it is the second attempt of the company to enter the capital market. HLF had filed its earlier DRHP on March 29, 2016 and withdrew it on June 16, 2107.

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Printable version | Apr 1, 2020 10:09:19 AM | https://www.thehindu.com/business/Industry/hinduja-leyland-finance-files-for-ipo/article24163434.ece

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